NY times from this morning...

-American homes are losing their value at the fastest rate in two decades, according to a closely watched report released on Tuesday.

In the 12 months ended in February, the Case-Shiller home price index, which measures the value of single-family homes in 10 major metropolitan regions, fell 13.6 percent, the worst decline since records began in 1987. A broader 20-city index dropped 12.7 percent.

The slump in home prices was more severe than the worst point of the recession of the 1990s, the last time values fell so far, so quickly.-

The Conference Board says the index fell in April to 62.3, from the revised 65.9 in March and 76.4 in February.

Shall we go further....Pres. Bush is on CNBC right now, so I am out.